Most of possible scenarios and associated behaviors have already been covered in other answers and comments. Still, some clarification could potentially be useful.
What happens depends on the level of doping.
If the level of doping is high, the contacts between the semiconductor and the external circuit (presumably involving metal wires) will be ohmic and the applied voltage will cause a current to flow. This would be a drift current, i.e., a current due to the applied electric field.
In this case, the semiconductor will behave as a small resistor with a little twist: due to the Peltier effect, one of the contacts will be cooled and the other heated.
If the level of doping is low, the contacts will be rectifying (Schottky contacts) and, since one of them will always be reverse biased, there won't be much of a current flow. All the applied voltage will drop across the contact that happens to be reverse biased. From the outside it'll look just as a capacitor with a small leakage.
After the initial current, charging the capacitance of the reverse biased contact, there won't be any measurable voltage drop or electric field across the bulk of the semiconductor and there won't be a gradient of charges and associated diffusion and drift currents.
The scenario you are describing, when the electrons get redistributed across the bulk of the semiconductor, could occur if we apply an external electrostatic field without making electrical contacts with the semiconductor (the second case outlined by Jon Custer).
In this scenario, the electrons will redistribute themselves to equalize the potential across the semiconductor and we can say that there would be a dynamic equilibrium between the diffusion and drift currents with the net current of zero.